IShares Currency Hedged MSCI Japan ETF (HEWJ) Rises 0.25% for May 17

A Strong Dollar Idea

There are always swirling headlines in today's financial news media. For traders looking to capitalize on trends, the ADX may be an essential technical tool. Investors who have had success in the past using a certain method for stock picking may eventually realize that the method no longer produces the same results as it once did.

Some investors may be struggling after adding the wrong stocks to the portfolio. The 14-day RSI is presently at 64.49, the 7-day is 75.91, and the 3-day is spotted at 91.74. The Average Directional Index or ADX is a technical analysis indicator used to describe if a market is trending or not trending. Wilder introduced RSI in his publication "New Concepts in Technical Trading Systems" which was released in 1978. A company with a value of 0 is thought to be an undervalued company, while a company with a value of 100 is considered an overvalued company. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well. Although past volatility action may help project future stock volatility, it may also be vastly different when taking into account other factors that may be driving price action during the measured time period. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.

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In terms of CCI levels, Global Metals & Mining Producers Ishares MSCI ET (PICK) now has a 14-day Commodity Channel Index (CCI) of 228.15. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. After a recent check, the 14-day RSI is now at 64.01, the 7-day stands at 78.91, and the 3-day is sitting at 96.34. Many chart analysts believe that an ADX reading over 25 would suggest a strong trend. A level of 25-50 would indicate a strong trend. Calculated from the last five balance points, the Balance Step indicator can help determine whether a bullish or bearish trend is developing near-term. The ADX alone measures trend strength but not direction. Investors may be watching other technical indicators such as the Williams Percent Range or Williams %R. A level of 50 would indicate neutral market momentum. Investors may use Price to Book to display how the market portrays the value of a stock.

On the daily chart, we see that over the past week or so the IWM etf managed to rally right back up to its January and March highs. Global Metals & Mining Producers Ishares MSCI ET (PICK)'s Williams %R presently stands at -8.27. The RSI operates in a range-bound area with values between 0 and 100. In general, if the reading goes above -20, the stock may be considered to be overbought. A reading from -80 to -100 would indicate an oversold situation. In fact its yellow 50-week simple moving average held as support in February and again in April. Moving averages can be very useful for identifying peaks and troughs.

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